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  1. Budget assumptions versus daily Brent spot prices and year-to-date (YTD) averages. Fiscal Year. Note: The daily Brent spot prices are the daily Brent closing spot prices from the U.S. Energy Information Administration.

  2. Prices for consumer goods and services in the province increased by 6.4 per cent in the first eight months of the year, compared to the same period last year. The increases in prices for fuel oil (70.3 per cent) and gasoline (34.9 per cent) were the largest, reflecting a 59.6 per cent increase in crude oil prices over the same period.

  3. 117.08. Excluding Applicable Taxes. Propane. Base Zone. 101.9. Excluding Applicable Taxes. Current Maximum Pricing: Motor Fuel - Heating Fuel. Maximum Pricing All Zones. 2022-23 Petroleum Products Pricing Review.

  4. Effective 12:01 a.m. Friday, August 26, 2022, the changes to maximum prices are as follows: all types of gasoline motor fuel will decrease by up to 7.1 cents per litre (cpl); diesel motor fuel will increase by up to 7.9 cpl; furnace oil heating fuel will increase by 6.80 cpl; and. stove oil heating fuel will increase by up to 6.80 cpl.

  5. Oil Production Up 1.0% in April 2024. According to the Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB), approximately 6.6 million barrels of oil were extracted from offshore Newfoundland and Labrador in April 2024, representing an increase of 1.0% compared to April 2023.

  6. Oct 19, 2022 · On the back of higher than expected revenue from oil — and taxes — Newfoundland and Labrador is projecting a 2022 budget surplus of nearly half a billion dollars.

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  8. Higher volume of oil production (86 million barrels versus 83M in the initial budget) and greater oil prices translates to $375M in higher revenue. Th e Ministry of Finance’s view on oil price is however on the high side: staff project $102US per barrel for the Brent (up from $86US budgeted) with an exchange rate of 0. 78 CAD to USD.